MONTREAL, March 24, 2015 /CNW Telbec/ - Logistec Corporation (TSX: LGT.A LGT.B), a marine and environmental services provider, is pleased to announce that Termont Terminal Inc. has signed a long-term lease agreement with the Montréal Port Authority to manage its new Viau Terminal. This redeveloped site will include a full-service berth for container vessels, two state-of-the-art post-Panamax cranes, a modern automated truck-marshalling gate, an efficient intermodal service using on-terminal rail operations, and a high-density container yard.
"The Port of Montréal is a strategic gateway for container shipping in North America. The development of this new capacity is not only good for Termont, MSC, and the Port, but also for Montréal, Québec, and Canada. With its intermodal networks, Montréal is a key facilitator for international trade. The new Viau terminal will provide Termont with the additional space it needs to deliver quick turnaround times and efficient cargo handling services to the Port of Montréal's current and future customers, and thus support MSC as it continues to grow its services through the Port of Montréal," said Madeleine Paquin, Chair of Termont Terminal Inc. and President and CEO of Logistec Corporation.
The Viau Terminal will be operated by Termont Montréal Inc. ("Termont"). In addition to its existing business at the Maisonneuve Terminal, Termont will oversee day-to-day activities at the new Viau facility, and provide cargo and container handling, inventory management, and transloading to truck or rail via CN and CP rail lines.
Construction of the Viau Terminal will be completed in two phases, the first of which will create container-handling capacity for an additional 350,000 TEUs by 2016. The second phase will provide facilities for another 250,000 TEUs, for a total of 600,000 TEUs at the new facility.
Termont will be investing approximately $42 million in new equipment at the Viau Terminal over a two-year period. This includes two new ship-to-shore post-Panamax cranes, five rubber-tire gantry cranes, six reach stackers, electrically-powered reefer stations, and a variety of tractors, trailers and lifters. During construction of the first phase, Logistec has made its newly purchased LHM 600 mobile harbour crane available to support Termont's activities.
"Termont is currently operating at full capacity and handled over 500,000 TEUs in 2014. This project will allow us to efficiently handle well over one million TEUs of container traffic and accommodate customer growth," said Julien Dubreuil, General Manager of Termont Montréal Inc. "With Canada's free trade agreement with the European Union coming into effect next year, this expansion will also help us maintain our competitiveness and provide quick turnaround for our clientele."
"I am extremely pleased that the future Viau Terminal will be operated by Termont, a great partner for the Port of Montreal since 1987," said Sylvie Vachon, President and CEO of the Montréal Port Authority. "I am sure that this project will be a great success, adding a capacity of 600,000 TEUs annually."
About Termont Terminal Inc.
Termont Terminal Inc. is owned by Logistec Stevedoring Inc. (a subsidiary of Logistec Corporation) and Cerescorp Company. Termont Terminal Inc. is a partner in Termont Montréal Inc. with Cortelina International Corp. Ltd.
Termont Montréal Inc. currently has a long-term contract in place for handling the business of Mediterranean Shipping Company, S.A. ("MSC") at the Port of Montréal. Termont Montréal Inc. also handles containers from OOCL and Hapag-Lloyd through their North Atlantic service. For more information, please visit www.termontmtl.com.
Logistec Corporation is based in Montréal and provides specialized services to the marine community and industrial companies in over 30 ports throughout eastern North America. We provide bulk, break-bulk and container cargo handling, in addition to marine transportation services geared primarily to the Arctic coastal trade, short-line rail transportation services, and marine agency services for foreign shipowners and operators serving the Canadian market. In the environmental sector, Logistec provides services to industrial, municipal and other governmental customers for the trenchless structural rehabilitation of underground water mains, regulated materials management, site remediation, risk assessment, and woven-hose manufacturing.
Logistec has been profitable and has paid regular dividends since becoming public and payments have grown steadily over the years. A public company since 1969, Logistec's shares are listed on the Toronto Stock Exchange under the ticker symbols LGT.A and LGT.B.
For the purpose of informing shareholders and potential investors about the Company's prospects, sections of this document may contain forward-looking statements, within the meaning of securities legislation, about the Company's activities, performance and financial situation and, in particular, hopes for the success of the Company's efforts in the development and growth of its business. These forward-looking statements express, as of the date of this document, the estimates, predictions, projections, expectations or opinions of the Company about future events or results. Although the Company believes that the expectations produced by these forward-looking statements are founded on valid and reasonable bases and assumptions, these forward-looking statements are inherently subject to important uncertainties and contingencies, many of which are beyond the Company's control, such that the Company's performance may differ significantly from the predicted performance expressed or presented in such forward-looking statements. The important risks and uncertainties that may cause the actual results and future events to differ significantly from the expectations currently expressed are examined under "Business Risks" in the Company's annual report and include (but are not limited to) the performances of domestic and international economies and their effect on shipping volumes, weather conditions, labour relations, pricing and competitors' marketing activities. The reader of this document is thus cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to update or revise these forward-looking statements, except as required by law. Additional information relating to our Company can be found on SEDAR's website at www.sedar.com and on Logistec's website at www.logistec.com.
SOURCE Logistec Corporation
For further information:
Jean-Claude Dugas, CPA, CA
Office: (514) 985-2345
E-mail: [email protected]